Fuel rises to N1,300/litre as depots run dry

Fuel scarcity and long queues have been experienced in several states across Nigeria, including Lagos, Ogun, Abuja, Niger, and others, due to the dry condition of many Premium Motor Spirit (PMS) depots. Black marketers have taken advantage of the situation, selling fuel for as high as N1,300 per litre in some areas. The Nigerian National Petroleum Company Limited (NNPC) attributed the tightness in fuel supply to a hitch in the discharge operations of some vessels. The NNPC assured the public that it is working with all stakeholders to resolve the situation and restore normalcy.

Despite the assurance from the NNPC, the situation has worsened, with long queues observed at filling stations across major cities. There was no loading of trucks in the Apapa depots, and most depots are reported to be dry. Marketers expressed surprise at the lack of fuel supply and stated that they are forced to buy fuel at higher prices from private depots. The scarcity has led to an increase in the price of fuel, with black marketers selling for as high as N1,500 per litre in some areas.

The scarcity and high cost of fuel have affected various parts of the country. In Lagos and Ogun states, many fuel stations did not open for business, and those that did had long queues. Black marketers took advantage of the situation, selling fuel at inflated prices. Similar scenarios played out in Abuja, where black marketers sold fuel for as high as N1,200 per litre. In Ogun State border communities, residents now patronize black marketers due to the ban on fuel supply in those areas. In other parts of the country, including Edo, Gombe, Jos, Taraba, and Adamawa states, long queues and high fuel prices were also observed.

The scarcity and high cost of fuel have caused frustration among motorists and residents, who are already dealing with economic hardship. Many have had to resort to alternatives, such as motorcycles, due to the high cost of fuel. The NNPC is yet to provide a timeline for when the fuel supply situation will improve. The scarcity highlights the need to address issues in the distribution channel and ensure direct supply from the NNPC to meet the country’s fuel demand.